Tight market conditions prompt multifamily development in the East Bay

​Tight market conditions, including
vacancy below 4.0 percent, have prompted a wave of new multifamily construction
in the East Bay. Much
of the market’s new development is located in Oakland, which offers an urban
living environment and close proximity to San Francisco. Development is also
concentrated further
east in the
Dublin/Pleasanton area,
where the convergence of several freeways offers accessibility to both San
Francisco and the Silicon Valley.​

Rising rents have made the market
attractive to developers. Rent growth in the East Bay has been stronger than
many other parts of the Bay Area. Still, rents are lower and the area is
relatively affordable compared to other parts of the Bay Area.